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Shiba Inu Developers Begin Collaboration with CoinMarketCap

The official Shiba Inu Twitter account has issued an update on the current CoinMarketCap incident. Thereby, stating that the top cryptocurrency ranking website has already contacted the coin’s creators to resolve recent concerns with “wormhole” addresses.

Three bogus smart contracts on three “Ethereum killers” (Binance Smart Chain, Terra, and Solana)

are displayed on the “first page of crypto,” according to the Shiba Inu community.

Because SHIB is an ERC-20 token, any non-Ethereum address is invalid, according to the creators. Tokens transmitted to addresses on other chains would be lost indefinitely.

CoinMarketCap quickly responded with a statement emphasizing that these are wormhole bridges. That’s, allowing cross-chain transactions involving wrapped versions of the coin.

So, As per coinmarketcap, As a result, the addresses in question are not harmful and are intended to enhance the user experience.

The Shiba Inu team recognizes the need of interoperability. But maintains that the level of security provided by such bridges has “basic constraints.”

Developers attacked CoinMarketCap for making judgments on the currency in a “centralized” way. Thereby, echoing community concerns, while backtracking on charges of publishing false smart contract addresses.

The community behind the canine token had previously targeted CoinMarketCap for improperly reporting the cryptocurrency’s circulating supply.

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